School buildings across America are crumbling. According to a 2020 report by the U.S. Government Accountability Office (GAO), 54 percent of U.S. school districts need to update or completely replace multiple building systems in their schools. As a result of decades of underfunding school infrastructure, national spending for K-12 school buildings falls short by an estimated $85 billion annually, as reported by a 2021 analysis from the 21st Century School Fund. Over the next decade, it would cost an estimated $1.1 trillion to modernize and replace obsolete school buildings and systems. Public schools receive most of their funding from local and state government sources. Yet since public schools in communities with fewer resources generate less funding from local property taxes--the primary source of local education funding--they must rely on state and limited local funding to cover operational and capital infrastructure expenditures to upgrade school facilities. For this reason, low-income and historically under-resourced communities, which often primarily serve students of color, are left with inadequate resources to repair and modernize school buildings. The need to initiate long-term federal school infrastructure funding is therefore not only about upgrading school buildings but also addressing the long-standing, ongoing need for racial justice, environmental justice, and educational equity. This report will explore how new and expanded federal funding for school infrastructure would meaningfully benefit both students' physical health and academic success.